The long-term forecast continues to be optimistic, which has been reflected in escalating valuations and continued increases to the purpose-built rental pipeline.
- Tailwinds from a record breaking year in 2021 continued, resulting in the most active Q1 on record, reaching a total sales volume of $794 million - a YoY increase of 35.9%
- The average price per suite in the GTA has risen to $357,494 year-to-date which represents an increase of 14.7% YoY.
- 2022 cap rates remain consistent with the 2021 average and are 3.15% year-to-date.
- Despite the uncertainty surrounding rising interest rates, multifamily fundamentals remain strong.